Q BioMed Inc. Chemotherapeutic Uttroside B, Receives Patent from United States Patent Office and Notice of Allowance for Europe
NEW YORK, April 14, 2023
Company’s Liver Cancer Drug Candidate IP Portfolio strengthened
Company provides operational update on strategic opportunities
NEW YORK, April 14, 2023 /PRNewswire/ — Q BioMed Inc. (OTCQB: QBIO) a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector, asset Uttroside B – has received a patent in the United States and a notice of allowance in Europe, adding to the already issued patents in Korea, Canada and Japan. In addition, recent results from pre-clinical pharmacokinetic testing have been very encouraging and the data supports advancing the program. Uttroside B shows tremendous value in the Liver Cancer Market and has received Orphan Drug designation from the FDA.
The America Cancer Society (www.cancer.org) reported in this year alone, an estimated 42,000 adults in the United States will be diagnosed with primary liver cancer. It is also estimated that 30,000 deaths from this disease will occur this year. The 5-year survival rate is 20%, compared to just 3% 40 years ago. For the 44% of people who are diagnosed with liver cancer at an early stage, the 5-year survival rate is 34%. There is significant demand for better therapeutic alternatives in the space. Q BioMed has the exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an Autonomous Institute under the Department of Biotechnology, Government of India, and the Oklahoma Medical Research Foundation.
In addition to successfully prosecuting its IP portfolio the company is engaged in finding strategic opportunities to best preserve and create value for its shareholders.
Denis Corin, QBioMed Inc. CEO said, “We believe in the inherent value we have created in our pipeline. With the assistance of bankers and funding partners we are evaluating strategic opportunities including financing, mergers, and asset joint ventures or sale of assets in order to maximize value for our shareholders in a very difficult market.”
The company has an approved non-opioid cancer pain palliation asset that is an effective therapeutic, it’s a non-opiate and can save hospitals millions of dollars in economic outcome improvements. In addition, it has a very promising liver cancer chemotherapeutic that has been granted US orphan drug status and several international patents, and recently was also granted a patent in USA. The plan is to advance this asset into the clinic in a non-US country where the government is offering 43% cash rebate and combined with US dollar strength would allow us to complete that clinical phase for 50% of the typical cost and potentially in a shorter timeframe. It previously reported the remarkable potency of Uttroside-B against liver cancer cells and believes it could be a very valuable drug candidate in the liver cancer market which has few therapeutics for a growing patient population.
QBioMed has an equity stake in Mannin Research valued at approximately $3.5M USD. This asset value is expected to rise significantly as they advance their programs assisted by non-dilutive government funding already amounting to over $15M and which could exceed $100M over the next year. Data from the Mannin planned ARDS trial will support the filings for further indications, including kidney disease and glaucoma. Combined, the addressable market for these therapies is over $150 billion a year.
The company believes these assets are far more valuable than the current market cap of the company and are determined to find a way to recognize that value for its shareholders and those that made these assets into promising therapeutics that could help many people around the world.
While the company believes these corporate activities are building value, it is of course aware of the dismal stock performance. Unfortunately, its cap and debt structure coupled with the general macro-market uncertainty and specifically the biotech market capitulation, has resulted in a valuation for QBIO that they maintain, is not reflective of the inherent asset value within their portfolio. The current microcap and biotech funding climate is making raising capital very challenging and keeping up with the considerable expense of public company operations and professional fees has resulted in them not being able to timely file or annual report. The company is working on remedying that as soon as possible
About Q BioMed Inc.
Q BioMed Inc is a biotech acceleration and commercial stage company. Q BioMed is focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need.
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This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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